Am interested in purchasing a Panasonic FZ200 but am confused over the 2 video recording systems. I am in NZ which uses PAL so must I get the camera with this system in order to playback any video I take? Am having trouble finding info re the two systems on the net and would appreciate some simple answers please.

Think of the systems like 2 different languages for speaking "video". In NZ you can speak english and most people will understand try to do this in France and you are likely to be met with a blank face. So if your camera speaks in PAL and is talking to an NTSC display device you don't get what you expect.